The Philippines Review Article

Philippine President Benigno Aquino under sparking criticism on a luxury Porsche sportscar

Considering a country where a third world population in rank lives on less than a dollar a day, President Aquino III has managed to purchase a third-hand 2007 Porsche. At a press briefing in Malacañang, Lacierda defended, ‘It’s a private purchase, it came from his own funds. The purchase were proceeds from the sale of another asset and that other asset was acquired through personal loans. He’s subject to scrutiny as a public official, I will grant you that. [But] what he does, again, privately is entirely his own discretion and I think we should allow him some private space,’ he said.

As local press cited Pres. Aquino ordered banning government units from buying luxury cars as service vehicles seemed somehow appeared to be out of character. Lacierda noted that the value of the Porsche, had it not been depreciated substantially to P4.5 million, the president wouldn’t even consider buying it.